Australia has been widely popular among international students these days especially after removing all the border restrictions. More than 11,000 prospective students choose to study in Australia in alignment with their long-term objectives because of the country’s abundant career and employment prospects.
Considering the wide popularity, the rental prices in Australia have risen ever since especially for the students returning to the country after pre-pandemic levels. As per reports both, the unit rents, as well as house prices, are touching clouds with average pricing of $550 per week, for the first time ever in 2018.
One of the reasons for the rising prices of the property is due to an increase in student numbers choosing Australia for their future education. The report by Domain rent report quoted “Demand Pressures have increased due to wide population majorly including International students, overseas migrants and domestic travelers getting attracted towards the study abroad destination, which resulted in rising of prices faster than the previous year- In fact, they are rising for houses and flats at the fastest rates ever recorded, respectively.
However, Melbourne city has worked on the rental prices and led the chart of the most affordable city in Australia. Not forgetting that the prices have increased by 2.2 percent over the quarter to a new high of $470 a week, the city still manages to be on top among students’ preferences due to the affordability.
The most competitive city of the capital Perth also observed high rental prices in the last two years which again is a consequence of a major student population attracted towards the country.